It is a fact that I have never had any sales person recruited paying retainer as that is not the practice in USA
I asked you if you were sure about that. Because I know you did this before and you know it's common.
SUMMARY OF COMPENSATION
Currently, as described in Note 5 of the Notes to Financial Statements, there are Service Agreements prevailing between the Registrant and each of its officers and directors. In addition, effective May 1, 2016, the Registrant entered into a Service Agreement with Louise Jones, Head of Institutional Sales. Ms. Jones received a signing bonus of $150,000, is to be paid $240,000 per year, and is to receive bonuses beginning when total institutional sales of the registrant or its subsidiaries reaches $400,000,000. As security for the payment of her annual compensation, the Registrant agreed to escrow $240,000 in cash plus an additional $240,000 in restricted stock Ms. Jones would also receive 100,000 shares of the Registrant’s common stock, which shares are to be transferred from Mr. Prasad, the Interim CFO and former majority shareholder.
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